07:10:12 EDT Tue 23 Apr 2024
Enter Symbol
or Name
USA
CA



Organto Foods Inc
Symbol OGO
Shares Issued 147,863,395
Close 2018-10-24 C$ 0.115
Market Cap C$ 17,004,290
Recent Sedar Documents

Organto Foods arranges $1.1-million private placement

2018-10-26 10:12 ET - News Release

Mr. Steve Bromley reports

ORGANTO ANNOUNCES $1.1 MILLION PRIVATE PLACEMENT

Organto Foods Inc. intends to complete a non-brokered private placement of 11 million units of Organto at a price of 10 cents per unit for gross proceeds of up to $1.1-million. Each unit will consist of one common share and one-half warrant exercisable to purchase one additional Organto common share at a price of 20 cents for a period of 18 months after the closing date. The exercise date of the warrants will be subject to acceleration in the event that the closing price of Organto's common shares on the TSX Venture Exchange, or such other stock exchange on which Organto common shares are primarily traded from time to time, is greater than or equal to 25 cents per share for a period of 10 consecutive trading days and such acceleration event occurs any time after the expiration of the hold period (as hereinafter defined).

Organto intends to use the proceeds of the private placement to finance continuing operations, to meet working capital requirements and for general corporate purposes. Organto reserves the right to reallocate funds from time to time in accordance with company requirements.

All securities issued pursuant to the private placement are expected to be subject to a four-month hold period. The private placement is subject to the acceptance of the TSX-V.

About Organto Foods Inc.

Organto is an integrated provider of year-round, value-added branded organic vegetables and seasonal organic and non-GMO (genetically modified organism) fruit and vegetable products serving a growing socially responsible and health-conscious consumer around the globe.

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